Caterpillar will retain a 35 percent interest in the
business, the Peoria, Illinois-based company said today in a
statement. Other details of the sale of Caterpillar Logistics
Services LLC weren’t disclosed. The transaction is expected to
be completed in the third quarter.

Caterpillar, the world’s largest manufacturer of
construction and mining equipment, is selling the controlling
stake in the business to concentrate on expanding its “core”
business, the company said. The third-party logistics unit works
with customers to cut their distribution costs.